Challenges faced by an organization to retain & motivate key staff

Active employee retention and attraction is critical to the long term health and success of any organization. The ability to retain and attract your best employees ensures customer satisfaction, satisfied staff, retention of organizational knowledge and learning and effective succession planning. Failing to retain a key employee is costly to any organization because apart from the cost to recruit and select a new employee other issues such as training time and investment; lost knowledge; mourning, and possibly insecure co-workers will all have an impact on the organization.

Thus, this paper attempts to assess various challenges faced by an organization, and analyze various practices that are prevalent in business organizations to retain and motivate their key staff.